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But we saved everything 🙂.
Most homeowners are unlikely to see the sale price of their property significantly impact their adjusted gross income, according to Kyle Pomerleau.
He notes that only the gains exceeding the capital gains exclusion—$250,000 for single filers and $500,000 for joint filers—would be added to taxable income. Pomerleau emphasizes that substantial gains would be required to move an individual from the middle to the top of the income distribution.